The fund's month-end assets under management (AUM) more than doubled from Rs 8,884 crore in February 2016 to Rs 19,863 crore in January 2019
ICICI Prudential Bluechip Fund (erstwhile ICICI Prudential Focused Bluechip Equity Fund) provides an opportunity for long-term wealth creation by predominantly investing in large-cap stocks. It has been a rank 2 fund in the large-cap funds category of CRISIL Mutual Fund Rankings (CMFR) for the three quarters ended December 2018. Rajat Chandak and Anish Tawakley have been managing the fund since July 2017 and September 2018, respectively. They have a combined experience of over 31 years.
The fund's month-end assets under management (AUM) more than doubled from Rs 8,884 crore in February 2016 to Rs 19,863 crore in January 2019.
Trailing returns
The fund has outperformed its peers (large-cap funds' category in CMFR) across all the trailing periods under analysis. It outperformed its benchmark (Nifty 100 TRI) in the long run during five, seven and ten years.
An investment of Rs 10,000 in the fund on May 23, 2008, (since inception of the fund) would have grown to Rs 39,940 (13.72% CAGR) on March 01, 2019, vis-à-vis the benchmark's Rs 26,719 (9.55% CAGR) and the category's Rs 25,780 (9.19% CAGR).
SIP returns
A monthly investment of Rs 10,000 through a systematic investment plan (SIP) for 10 years since April 2009 would have grown to Rs 23.13 lakh (XIRR 12.8%) as on March 01, 2019. A similar investment in the benchmark would have grown to Rs 21.69 lakh (XIRR 11.57%).
Risk-reward matrix
During the past three years, the fund delivered higher returns over its peers, while maintaining marginally higher volatility.
Portfolio analysis
During the past three years, the fund invested in 87 stocks and maintained average allocation of 88.64% to large-cap stocks, 3.51% to mid-caps and no allocation to small-cap stocks.
The fund invested in 26 sectors in the past three years. The top five sectors constituted 52.09% of the fund's portfolio in January 2019. Sectors such as banks, finance, consumer non-durables, and software were some of the top contributors to the fund's performance.
The fund consistently held 21 of the 87 stocks that it invested in during the three years. The exposure to consistently-held stocks was 59.86%, reflecting high conviction stock picking. HDFC Bank, Bajaj Finserv, ICICI Bank, Axis Bank, and Reliance Industries have been key contributors to the fund's performance amongst the consistently held stocks which also outperformed the fund's benchmark index. Other key performers include Britannia Industries, Kotak Mahindra Bank, Biocon, and Avenue Supermarts.
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